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According to a research report "Global Food & Beverage Industry Outlook 2024 – Navigating The Culinary Horizon of Tomorrow" Published by MarketsandMarkets, the Top 10 Food & Beverage Markets Will Grow From USD 164.02 billion in 2023 to USD 179.83 billion by 2024, representing a Yoy increase of 9.6%. The Food & Beverages Industry Outlook covers the lant-based protein market, plant-based meat market, food-testing market, food certification market, precision fermentation ingredients market, food robotics market, personalized nutrition market, probiotics market, regenerative agriculture market, and food traceability markets.

Food & Beverages Industry's Key Developments in the 2023

• There has been a continued shift in consumer preferences towards convenient and innovative, plant-based food alternatives in 2023. For ex- growing interest in sea green-based products (e.g., algae- or kelp-based foods).
• Showing affinity towards sustainable and ethical food consumption, plant-based proteins replicating the taste and texture of animal-based counterparts have been popularized. With increasing investments and focused innovations from start-ups, precision fermentation is reshaping the landscape of alternative protein production, addressing both environmental and ethical concerns associated with traditional meat production.
• Advancements in biotechnology and nutritional science drive the creation of foods designed to meet individual health needs in personalized food space. According to a report published by Glanbia Nutritional in October 2023, the top reason consumers are reaching for functional nutrition products is to boost health.
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• Consumers are increasingly turning their attention to gut health, making probiotics a sought-after trend. Probiotics, once confined to the yogurt aisle, are now making their way into unconventional foods like chocolate, ice cream, juices, sauces, and nutrition bars. Beverages are becoming a favored carrier for probiotics and prebiotics, with 25% seeking probiotics and 23% seeking prebiotics in wellness drinks, according to IFIC’s 2022 Consumer Insights on Gut Health and Probiotics Survey.
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• Integration of blockchain technology in the food and beverages industry ensures transparency and traceability of the supply chain. The integration of robotics and automated systems plays a pivotal role in meeting the growing demand for mass-produced food items.
• Food and beverage manufacturers are adopting sustainability practices through reduced food waste, ethical sourcing, biodegradable/recyclable packaging, clean and transparent labeling, etc. Certifications, such as organic and fair trade, along with transparent, traceable supply chains further contribute to a more sustainable and ethical food landscape.
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2024: A Year of Transformation in Food & Beverage Industry

• Sustainability: The sustainability trend will continue with heightened emphasis on circular economy and local sourcing. Efforts intensify in reducing food waste, advancing eco-friendly packaging, and enhancing energy-efficient operations. Certifications like organic and fair trade, along with transparent, traceable supply chains will remain crucial in shaping a more sustainable and ethical food landscape in 2024.
• Consumerism: Looking forward to 2024, the trend intensifies with a continued focus on personalized nutrition, clean labels, and ethical sourcing. The emphasis on on-the-go options, global culinary exploration, and health-conscious products persists, driving further growth in e-commerce and direct-to-consumer models.
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• Technology and automation: Continued focus on AI-driven supply chain management, robotics, and augmented reality will help shape the food manufacturing landscape. Additionally, precision fermentation, 3D food printing, and nanoencapsulation will gain prominence, driving innovation for sustainable food production.
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• Food Safety: Widespread blockchain adoption for traceable supply chains further solidifies, providing consumers with enduring assurance in the safety and integrity of their food choices.
• New Products, Solutions, and Services: In 2024, we expect a continued focus on personalized nutrition with advanced technology integration and collaborations between tech and food companies, resulting in cutting-edge formulations emphasizing both effectiveness and safety. The fusion of artificial intelligence with nutrition apps is expected to revolutionize the way consumers approach their diets. The landscape will showcase innovative ingredients and technologies shaping the future of food.
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Leveraging years of experience in the booming food & beverage sector, the global food & beverages industry outlook 2024 report equips both consumers and market leaders for the year ahead. This comprehensive resource incorporates expert opinions, insightful analyst evaluations, and extensive interviews with stakeholders worldwide, providing a well-rounded perspective on the industry's future.

North America leads the Food & Beverages Industry, and Asia Pacific experiences the highest YoY growth.

In 2024, the global food industry is expected to exhibit strong regional growth across key sectors. The alternative protein industry sees vibrant innovation globally; North America takes the lead, notably in the United States, fostering innovations in plant-based and lab-grown proteins. In the domain of food automation, widespread adoption of smart technologies is observed, with Europe and North America at the forefront. Countries like Germany, the United States, and Japan are displaying significant strides in the integration of automation and smart solutions across their food production processes. Led by countries like China, Japan, and India, Asia Pacific dominates the major market share in food robotics market, showing a robust presence in the integration of robotic technologies across various aspects of food production. Food safety solutions have found prominence in North America and Europe, emphasizing stringent quality control and pathogen detection standards. Personalized nutrition gains traction globally, particularly in North America and Europe, where the integration of genetic insights into dietary recommendations is prevalent. The Asia Pacific region, with its supportive geopolitical, demographic, and economic conditions, emerges as the fastest-growing region within the broader food & beverages industry, underscoring the region’s pivotal role in steering the industry’s dynamic evolution and technological advancements.

Key Companies in the Global Food and Beverage Industry:

In the rapidly evolving landscape of the food and beverage industry, key companies are spearheading transformative initiatives across various sectors. In the alternative protein industry, Cargill (US) and Wilmar International Ltd., (Singapore) are pioneering plant-based and lab-grown protein innovations. The realm of food automation sees global leaders such as ABB (Switzerland), Rockwell Automation (USA), and Siemens (Germany) harnessing robotics and smart technologies to enhance production efficiency. For ensuring food safety, Thermo Fisher Scientific (USA) and Neogen Corporation (USA) are at the forefront, providing advanced solutions for quality control and pathogen detection. Personalized nutrition is advanced by Nutrigenomix (Canada) and DNAfit (United Kingdom), tailoring dietary recommendations based on genetic insights. In the regenerative agriculture sector, companies like Indigo Agriculture (USA) and General Mills (USA) champion sustainable farming practices. Finally, precision fermentation is driven by innovators like Ginkgo Bioworks (USA) and Perfect Day (USA), offering scalable and sustainable solutions for alternative protein production. Together, these companies exemplify the diverse and dynamic future of the food and beverage industry.

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Specialty enzymes are specific proteins designed to catalyze biochemical reactions for specialized applications in various industries. These enzymes are tailored to meet the unique requirements of different industrial processes, enhancing efficiency, specificity, and performance. The global specialty enzymes market size is estimated to be valued at USD 6.1 billion in 2024 and is projected to reach USD 9.2 billion by 2029, recording a CAGR of 8.5%.

Key Applications of Specialty Enzymes:Food and Beverage Industry:

• Baking: Enzymes like amylases and proteases improve dough handling and bread quality.
• Dairy: Lactases break down lactose, aiding in the production of lactose-free products.
• Brewing: Proteases and beta-glucanases improve filtration and clarity in beer production.

Pharmaceuticals:

• Therapeutic Enzymes: Used to treat diseases such as enzyme replacement therapies for lysosomal storage disorders.
• Diagnostic Enzymes: Enzymes like glucose oxidase are used in biosensors for blood glucose monitoring.

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Biofuels:

• Cellulases and Hemicellulases: Break down plant biomass into fermentable sugars for ethanol production.
• Lipases: Enhance biodiesel production by breaking down fats and oils.

Textile Industry:

• Amylases: Remove starch-based sizing agents from fabrics.
• Cellulases: Provide a soft finish to fabrics and improve color brightness.

Agriculture:

• Phytases: Improve the bioavailability of phosphorus in animal feed, enhancing nutrition.
• Proteases: Enhance the digestibility of feed proteins for better animal growth.

Cosmetics and Personal Care:

• Proteases and Lipases: Used in skin care products for exfoliation and moisturizing.
• Hyaluronidases: Enhance the effectiveness of anti-aging treatments by breaking down hyaluronic acid.

Factors Driving the Specialty Enzymes Market Growth

Public funding and incentives for biotechnological research are critical drivers of growth and innovation in the specialty enzymes market. The EU’s Horizon Europe program, with a budget of USD 103.6 billion for 2021-2027, is focused on research and innovation, including biotechnology. This program supports projects aimed at developing advanced biotechnological processes and products. In the United States, the National Institutes of Health (NIH) allocated over USD 42.0 billion for biomedical research in 2022, with part of this funding directed towards biotechnology research, including the development of novel enzymes for medical and industrial applications.

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In India, the Biotechnology Industry Research Assistance Council (BIRAC) plays a significant role in fostering innovation and growth within the specialty enzymes market. Established by the Department of Biotechnology (DBT), Government of India, BIRAC actively supports biotech startups and research institutions through various funding schemes. One of the key initiatives is the Biotechnology Ignition Grant (BIG) scheme, which provides early-stage funding to startups and entrepreneurs with innovative ideas in biotechnology. In July 2020, BIRAC allocated Rs. 50 crores (approximately USD 6.7 million) under the BIG scheme to support around 100 startups and entrepreneurs in the biotechnology sector. This funding aims to catalyze innovation, encourage entrepreneurship, and accelerate the development of novel enzyme-based solutions for various applications in biotechnology and pharmaceuticals. By providing financial support and fostering a conducive ecosystem for research and development, initiatives like BIRAC’s BIG scheme contribute significantly to the growth and competitiveness of the enzyme market in India.

Enzymes sourced from animals hold a significant specialty enzymes market share

Animal-derived enzymes are often preferred for their high specificity and efficiency in catalyzing biochemical reactions, which is essential in various specialized processes. Pancreatic enzymes, such as trypsin and chymotrypsin, are extensively used in drug formulation and the production of biologics. These enzymes facilitate the precise cleavage of peptide bonds, crucial for developing and manufacturing therapeutic proteins and peptides. Their specificity and activity levels make them indispensable in pharmaceutical applications, significantly contributing to their market share.Moreover, animal-derived enzymes are essential in clinical diagnostics. For example, rennet, obtained from the stomachs of calves, is used in the coagulation process for cheese production, highlighting their importance in the food industry. In clinical settings, enzymes like lactase, derived from animal sources, are used in diagnostic kits to test for lactose intolerance, demonstrating their versatility and utility in both food processing and medical diagnostics.A notable example of the significance of animal-sourced enzymes is the use of thrombin, derived from bovine sources, in surgical procedures. Thrombin is crucial for promoting blood clotting and is used in topical hemostatic agents to control bleeding during surgeries. The high efficacy and reliability of thrombin in medical applications underscore the importance of animal-derived enzymes in the specialty enzymes market.

North America region to dominate the specialty enzymes industry during the forecast period.

North America holds the highest market share in the specialty enzymes market due to several key factors. The region is home to a robust pharmaceutical and biotechnology industry, characterized by significant investments in research and development. This investment landscape fosters innovation, leading to the development of advanced enzyme-based solutions. For instance, companies like Codexis, Inc. (US), are at the forefront of enzyme engineering, continuously developing new enzymes for pharmaceutical and industrial applications.Moreover, the presence of well-established healthcare infrastructure and a high demand for diagnostic tools contribute to the market’s growth. Specialty enzymes are crucial in various diagnostic applications, including ELISA (Enzyme-Linked Immunosorbent Assay) tests, which are widely used in medical diagnostics. The increasing prevalence of chronic diseases such as cancer and diabetes in North America drives the demand for these advanced diagnostic tools, further propelling the specialty enzymes industry.

Top Specialty Enzymes Companies

• BRAIN Biotech AG (Germany)
• Novozymes A/S (Denmark)
• Codexis, Inc. (US)
• Sanofi (France)
• Merck KGaA (Germany)
• Dyadic International Inc (US)
• Advanced Enzyme Technologies (India)
• Amano Enzyme Inc (Japan)
• F. Hoffmann-La Roche Ltd (Switzerland)
• New England Biolabs (US)
• BBI Solutions (UK)
• Creative Enzymes (US)
• Bioseutica (Netherland)
• SEKISUI Diagnostics (US)

The mycotoxin testing market is a critical component of the food safety industry. Mycotoxins are toxic secondary metabolites produced by certain types of fungi, which can contaminate crops and pose significant health risks to humans and animals. The testing of these toxins is essential to ensure food and feed safety, regulatory compliance, and to mitigate economic losses.

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The Critical Role of Accurate Mycotoxin Testing in Europe’s Food Supply Chain

In Europe, food safety policies are strongly supported by efforts from Control Laboratories (CLs), National Reference Laboratories (NRLs), and EU Reference Laboratories (EURLs). These authorities play a crucial role in upholding food standards and protecting consumer health by ensuring the quality of the food supply chain. Europe boasts a highly developed food safety infrastructure, featuring well-established laboratories and testing facilities equipped with advanced chromatography and spectroscopy-based technologies for mycotoxin analysis. This infrastructure facilitates comprehensive testing programs and guarantees accurate and reliable results. Furthermore, Europe’s diverse and extensive agricultural industry produces a wide range of crops susceptible to mycotoxin contamination, including cereals, grains, nuts, and dried fruits. The common occurrence of contamination in these commodities highlights the critical need for testing to mitigate risks and ensure food safety.

Mycotoxin Testing Industry OverviewMarket Size and Growth:

• The mycotoxin testing market has been experiencing steady growth, driven by increasing awareness of food safety, stringent food safety regulations, and the need for high-quality food products.
• Mycotoxin testing market size is projected to reach USD 2.3 billion by 2029 from USD 1.6 billion by 2024, at a CAGR of 6.7% during the forecast period in terms of value.

Factors Influencing the Mycotoxin Testing Market GrowthRegulatory Requirements:

• Stringent food safety regulations set by authorities such as the FDA (U.S.), EFSA (Europe), and others drive the demand for mycotoxin testing.
• Maximum residue limits (MRLs) and other safety standards necessitate regular testing.

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• Growing consumer awareness about food safety and health concerns related to mycotoxin contamination fuels the demand for testing.
• The rise in health-conscious consumers who demand transparency in food production and safety.

3. Technological Advancements:

• Innovations in testing technologies that offer faster, more accurate, and cost-effective solutions are propelling mycotoxin testing market growth.
• Development of new testing kits and equipment that enhance the efficiency of mycotoxin detection.

4. Agricultural Practices:

• Climate change and varying agricultural practices can affect the prevalence of mycotoxins, influencing the demand for testing.
• Increased emphasis on sustainable agriculture and food production methods to prevent contamination.

How the mycotoxin testing industry will develop in the future with several top mycotoxin testing companies like SGS Société Générale de Surveillance SA (Switzerland), and ALS (Australia)?

Established in 1878, SGS Société Générale de Surveillance SA is a global leader in testing, inspection, and certification services. The company offers a broad range of services, including inspecting, sampling, analyzing, and monitoring raw materials, components, and products to ensure compliance with industrial standards and local regulations, including tax and duty requirements. SGS serves a diverse clientele across various sectors such as chemicals, oil and gas, agriculture and food, construction, energy, life sciences, arts and culture, mining, public sector, logistics, industrial manufacturing, consumer goods and retail, environment, and transportation. SGS plays a crucial role in maintaining industry standards worldwide. With a workforce of 99,600 dedicated professionals operating from 2,600 offices and laboratories strategically located worldwide, the company is committed to delivering excellence in its services and reinforcing its global presence.In March 2023, SGS acquired the testing business and assets of Asmecruz, a cooperative of mussel producers in Boiro, Spain. This acquisition aligns with SGS’s strategy to enhance its food services and lab network in Europe, particularly in line with the nutrition, health, and wellness trend. It also strengthens SGS’s presence in Spain.

ALS (Australia)ALS, headquartered in Australia, specializes in providing professional technical services. Its core areas of expertise include testing, measurement, and inspection, with a focus on supporting environmental monitoring, ensuring quality assurance in food and pharmaceutical industries, and aiding in mining and mineral exploration efforts. The company’s business is divided into two segments: Commodities and Life Sciences. The Commodities segment offers assaying, analytical testing, and metallurgical services to mining and mineral exploration companies. Additionally, it provides specialized services to the coal industry, including coal sampling, analysis, and certification, as well as formation evaluation and tribology testing services.On the other hand, the Life Sciences segment delivers analytical testing data to consulting firms, engineering firms, industries, and governments worldwide. This data assists in making informed decisions across various sectors, including environmental management, food and pharmaceutical quality assurance, electronics, consumer products, and animal health.

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In March 2024, ALS announced the acquisitions of York Lab (US) and Wessling (Germany), marking strategic advancements in its Life Sciences portfolio. These acquisitions underscore ALS’ capability to execute transactions within its growth framework, aiming to broaden both geographic presence and service offerings for new and existing clients. York Lab’s acquisition will facilitate entry into the burgeoning USA environmental market, especially in the northeast, while Wessling offers access to the substantial German and French environmental and pharmaceutical markets, enhancing ALS’ European footprint.

Insect protein, derived from insects, serves as a nutritious food source for both humans and animals. This protein is highly sustainable and environmentally friendly, requiring significantly less land, water, and feed compared to traditional livestock like cows or pigs. Insects are rich in protein, healthy fats, and essential vitamins and minerals. The use of insect protein is gaining popularity in various culinary applications, including protein bars, energy drinks, and burgers. Additionally, insects are being explored as a potential solution to the global food crisis due to their abundance and scalability in production.

At a CAGR of 33.4% from 2022 to 2027, the global insect protein market size is estimated to be worth $0.8 billion in 2022 and $3.3 billion by the end of 2027.

The insect protein industry boasts unique qualities that distinguish it from traditional protein sources. Insects offer a highly nutritious protein source, rich in essential amino acids, vitamins, and minerals. They are also a sustainable option, requiring minimal resources to farm and leaving a smaller ecological footprint compared to conventional livestock. Insects’ versatility as a protein source allows for a wide range of applications, from protein bars to pet food. However, the market faces challenges, such as limited consumer acceptance and regulatory hurdles.

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The Food & Beverage Segment is the Fastest Growing Application of Insect Protein During the Forecast Period

The major buyers in this market are food and beverage companies, dairy-alternative manufacturers, and feed industrials among others. The supply of insect protein affects the production of insect-based food and beverages production. Insect-based protein is considered a viable alternative source for protein, majorly in food and feed applications. Though whole insects are also available in the market as a rich source of protein, the scope of this report has been limited to only the processed products available as insect protein.

What role do start-ups play in the insect protein market in North America?

North America is anticipated to hold the largest insect protein market share in 2022, followed by Europe, Asia Pacific, and RoW. The presence of key insect protein manufacturing companies in developed regions such as North America and Europe contributes to these regions’ high market share. Many start-ups have been established in the region that provide both edible insects and insect protein-based products for food and feed applications. Enterra Feed Corporation (Canada), Entomo Farms (Canada), EnviroFlight LLC (US), and Aspire Food Group (US) are some of the leading companies providing insect protein-based products. The market for insect protein-based food products is projected to record the fastest growth during the forecast period due to the increasing awareness among people.

Insect Protein Market Growth Drivers

• Sustainability and Environmental Benefits: Insects require significantly less land, water, and feed compared to traditional livestock, making them a highly sustainable protein source with a smaller ecological footprint.
• Nutritional Value: Insects are rich in essential amino acids, healthy fats, vitamins, and minerals, offering a highly nutritious alternative to conventional protein sources.
• Increasing Demand for Alternative Proteins: The rising global population and growing awareness of the environmental impact of meat production are driving demand for sustainable and alternative protein options.
• Versatility in Applications: Insect protein can be used in a wide range of products, including protein bars, energy drinks, pet food, and animal feed, enhancing its market appeal.
• Rising Consumer Awareness: As consumers become more aware of the environmental and health benefits of insect protein, acceptance and demand are increasing.
• Investment and Innovation: Significant investments and innovations in insect farming and processing technologies are improving production efficiency and product quality, contributing to market growth.

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• Government Support and Regulations: Favorable government policies and regulations promoting sustainable food production are encouraging the development and adoption of insect protein.
• Growing Number of Start-ups: The establishment of numerous start-ups focused on edible insects and insect protein-based products is driving market expansion and increasing product availability.
• Food Security Concerns: Insects are being explored as a potential solution to global food security issues due to their abundance and scalability in production.
• Corporate Initiatives: Leading companies in the food and beverage industry are increasingly incorporating insect protein into their product lines, boosting market visibility and growth.

Top Insect Protein Companies

• EnviroFlight (US)
• InnovaFeed (France)
• HEXAFLY (Ireland)
• Protix (Netherlands)
• Global Bugs (Thailand)
• Entomo Farms (Canada)
• Ynsect (France)

The global agricultural pheromones market size was valued at US$ 3.3 billion in 2022 and is poised to grow from US$ 3.9 billion in 2023 to US$ 8.2 billion by 2028, growing at a CAGR of 16.2% in the forecast period (2023-2028). The agricultural pheromones market is a niche but rapidly growing segment within the agricultural industry. Pheromones, which are chemicals emitted by insects and other organisms to communicate with one another, are utilized in agriculture primarily for pest control. By leveraging these natural communication methods, farmers can manage pest populations more effectively and sustainably.

Factors Driving the Agricultural Pheromones Market Growth

Integrated Pest Management (IPM) Adoption:

• Increasing awareness and adoption of IPM practices drive the use of pheromones.
• Pheromones are considered an environmentally friendly alternative to traditional pesticides.

Demand for Organic Farming:

• Rising consumer preference for organic produce encourages the use of non-toxic pest control methods.
• Pheromones help in maintaining pest control in organic farming systems without the use of synthetic chemicals.

Regulatory Support:

• Governments and regulatory bodies are promoting the use of biopesticides, including pheromones.
• Regulatory frameworks favoring sustainable agricultural practices boost market growth.

Future Outlook of Agricultural Pheromones Industry

• Technological Advancements:Innovations in pheromone synthesis and delivery systems could lower costs and improve efficacy.
• Expansion in Emerging Markets:Increased focus on sustainable farming in emerging economies presents growth opportunities.
• Collaboration and Partnerships:Partnerships between companies, governments, and agricultural organizations can enhance market penetration and farmer education.

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In what ways do international eco-laws encourage the use of agricultural pheromones as a sustainable approach to pest control?

International environmental regulations, such as the Vienna Convention for the Protection of the Ozone Layer and the Stockholm Convention on Persistent Organic Pollutants (POPs), have positively impacted the agricultural pheromones market. Efforts under the Vienna Convention to protect the ozone layer have led to the reduction of hazardous pesticides, including the replacement of methyl bromide with less harmful alternatives. This shift aligns with the use of agricultural pheromones as an eco-friendly pest control solution. As the agricultural industry seeks alternatives to harmful pesticides, the demand for pheromones as a sustainable and targeted pest control method is increasing.Thus, these international environmental regulations indirectly influence the agricultural pheromones market by driving a shift toward eco-friendly pest control practices. This creates a favorable environment for adopting agricultural pheromones as an effective and targeted solution for pest management in agriculture.

Mating Disruption: Holds the Largest Agricultural Pheromones Market Share

The mating disruption segment in the agricultural pheromones market is growing for several reasons. Mating disruption is a highly sustainable and environmentally friendly pest control method. It uses synthetic pheromones to interfere with insect communication, specifically disrupting their mating behavior. During mating disruption, pheromones are released at such high rates that male insects become confused and unable to detect the plume of calling females. Constant exposure to high and uniform levels of pheromones in orchards limits or inhibits the males’ ability to detect these signals. Mating disruption stands out as a promising and effective approach in the agricultural pheromones market, offering a safer, more targeted, and environmentally responsible way to manage pests, thereby driving global demand for pheromones.

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North America Leads in Agricultural Pheromones Market Growth Amid Rising Pest Resistance

The pheromone market in North America is expanding due to the broadening range of applications beyond agriculture, including forestry and industrial uses in the food and pharmaceutical industries. Key agricultural crops in the region, such as cotton, tomatoes, grapes, corn, pome fruits, and stone fruits, are susceptible to various insect pests like the pink bollworm, leaf miner, codling moth, and berry moths. With rising pest resistance rendering conventional insecticides less effective and increasing pressure from governments and consumers for safer, greener food production, effective pheromone controls are becoming essential.

Top Agricultural Pheromones Companies

• Shin-Etsu Chemical Co., Ltd (Japan)
• BASF SE (Germany)
• Mitsui & Co., Ltd. (Japan)
• Biobest Group NV (Belgium)
• The Wonderful Company LLC (US)
• Russell IPM (UK)
• ISCA Technologies (US)
• Trécé Incorporated (US)
• Bedoukian Research, Inc. (US)
• Pherobank (Netherlands)
• Koppert Biological Systems (Netherlands)
• Gowan Company (US)
• InVivo (France)

The agrigenomics market, which integrates genetics and genomics with agriculture, is rapidly expanding due to technological advancements and increasing applications in both crop and livestock production. 

Agrigenomics Market Size and Agrigenomics Market Growth

• Current Value: As of 2021, the agrigenomics market was valued at around USD 3.3 billion.
• Future Projections: The agrigenomics market size is projected to reach USD 5.3 billion by 2026, at a CAGR of 9.7, highlighting its importance in the global agriculture industry.

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Key Technologies in Agrigenomics Industry

• Next-Generation Sequencing (NGS): Used extensively for its high throughput and accuracy in analyzing genetic material.
• CRISPR Gene Editing: Allows precise modification of genes to improve traits in crops and livestock, such as disease resistance and yield.
• Real-Time PCR (qPCR) and Microarrays: Essential for gene expression analysis and genotyping.

Agrigenomics Market Growth Drivers

• Technological Advancements: Enhancements in genomic technologies improve the efficiency and precision of breeding programs.
• Precision Agriculture: The adoption of precision farming techniques, which utilize genomic data to optimize crop management and livestock breeding, is on the rise.
• Food Security: The need to feed a growing global population drives demand for agrigenomics to increase food production sustainably.

Agrigenomics Market Trends

• Rising demand for food: The global population is growing, and with it, the demand for food. This is putting pressure on farmers to produce more crops and livestock, which is driving the adoption of agrigenomics technologies.
• Focus on sustainability: Consumers are increasingly concerned about the sustainability of agricultural practices. Agrigenomics can help to develop crops that are more resistant to pests and diseases, require less water, and are more nutritious.
• Advancements in genomics technologies: The field of genomics is constantly evolving, with new technologies emerging all the time. These new technologies are making it faster, cheaper, and easier to analyze the genomes of plants and animals.
• Marker-assisted selection: This technique is becoming increasingly popular as a way to improve the efficiency of breeding programs. Marker-assisted selection allows breeders to identify plants or animals with desirable traits early on in the breeding process.
• Growth in specific regions: North America is currently the dominant market for agrigenomics, but Asia Pacific is expected to see the fastest growth in the coming years. This is due to a number of factors, including government support for agricultural research and development, and the growing demand for food in the region.

North America holds the largest agrigenomcis market shareNorth American agrigenomics leads the global market due to several factors. Strong research and development (R&D), continuous technological innovation, and a growing number of mergers and acquisitions in the region have fueled this dominance. The US, in particular, holds the largest market share within North America. This is driven by advancements in areas like DNA sequencing and molecular breeding techniques. These advancements have applications in various sectors including food and agriculture, animal health, and even public health.Make an Inquiry to Address your Specific Business Needs: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=206614334One notable aspect of North American agriculture is the high production of genetically modified (GM) crops like canola, corn, soybean, and sugar beet. However, there are concerns about potential cross-contamination between GMOs and non-GMO crops. This contamination could introduce new proteins, potentially causing allergic reactions in humans. To address this, regulations mandate safety testing on novel traits introduced through genetic modification. This includes GMO/trait purity tests conducted on samples. These developments, coupled with a strong emphasis on R&D in agricultural biotechnology, have significantly boosted the North American agrigenomics market.

Top Agrigenomics Companies

• Thermo Fisher Scientific, Inc. (US)
• Agilent Technologies, Inc. (US)
• Illumina, Inc. (US)
• Eurofins Scientific SE (Luxembourg)
• LGC Limited (UK)

Agrigenomics: A Key to Food and Nutritional Security

The market’s expansion relies on extending its application scope beyond merely ensuring food and nutritional security. Genome analysis tools and techniques are vital for identifying food safety concerns, including spoilage, contamination, adulteration, and economic fraud. These tools also enhance traceability throughout the entire supply chain, from farm to fork.

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New Breeding Techniques (NBT), grounded in applied genetics, have transformed breeding strategies for both crops and livestock by offering unprecedented access to genomic data. Additionally, genomics has provided critical insights into the biological status of essential resources such as fisheries, crops, and livestock health, aiding in their sustainable management.

Lactic Acid Market Overview 2024, Analysis, Growth, Share, Status and Forecast 2028

Lactic acid, also known as 2-hydroxypropanoic acid, is an organic compound with the chemical formula 𝐶3𝐻6𝑂3. The lactic acid market has been experiencing significant growth due to its wide range of applications across various industries.

Lactic Acid Industry Overview

Market Size and Lactic Acid Market Growth

Volume: The demand for lactic acid is expected to increase in tandem with market value, driven by its rising use in biodegradable plastics, food and beverages, personal care products, and pharmaceuticals.

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Market Value: The lactic acid market size is estimated at USD 1.6 billion in 2023 and is projected to reach USD 2.8 billion by 2028, at a CAGR of 12.4% from 2023 to 2028.The lactic acid market growth is driven by increasing environmental awareness, regulatory support for biodegradable materials, and expanding applications in various industries. Technological advancements in production processes and the development of new applications are expected to further boost market prospects.Lactic Acid Industry Regional Insights

• North America: A significant market due to the high demand for biodegradable plastics and the well-established food and beverage industry.
• Europe: Strong growth driven by stringent environmental regulations and a strong emphasis on sustainability.
• Asia-Pacific: The fastest-growing market, driven by increasing industrialization, a booming food and beverage industry, and rising consumer awareness about sustainable products. China and India are key contributors to this growth.

By value, Biodegradable Polymers Represented the Largest Lactic Acid Market Share

Increasing global environmental concerns and the need for sustainable solutions have driven the demand for biodegradable polymers as an alternative to traditional plastics. These polymers, derived from renewable resources and capable of biodegradation, align with the growing preference for eco-friendly materials. The demand for biodegradable polymers spans diverse industries such as packaging, textiles, consumer goods, and automotive, benefiting from the versatility and adaptability of polylactic acid (PLA) in various applications. With heightened consumer awareness and a growing preference for sustainable products, the market for biodegradable polymers is set for significant growth. Additionally, ongoing advancements in PLA production technologies, combined with economies of scale, are driving cost reductions and enhancing the competitiveness of biodegradable polymers against conventional plastics, further stimulating market expansion.

The North America region is projected to contribute the largest lactic acid market share.

North America boasts a strong presence of industries that utilize lactic acid, including food and beverages, personal care, pharmaceuticals, and bioplastics. The region’s robust manufacturing base and consumer markets create a favorable environment for the lactic acid market’s growth.Advancements in production technologies and the availability of raw materials, such as corn-based feedstocks, also contribute to the expansion of the lactic acid market in North America. Additionally, the region’s well-established infrastructure and supportive government policies further promote market growth and innovation.Increasing investments in research and development activities, along with collaborations between industry players and research institutions, drive advancements in lactic acid applications and production processes, fueling market growth in North America.

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How Multi-functionalities of Lactic Acids Create Opportunities for Manufacturers?

Biodegradable, biocompatible, and heat-resistant, lactic acid and PLA are versatile materials with a wide range of applications.  In packaging, they offer a sustainable alternative to traditional plastics, extending shelf life and acting as barriers. The medical field utilizes them for drug delivery, tissue engineering, and implants that biodegrade over time. Eco-friendly fabrics and fibers are another area where lactic acid shine. Additionally, they are found in personal care products, cleaning agents, and even 3D printing filaments. This broad functionality makes them attractive for industries seeking sustainable and innovative solutions.The growing demand for eco-friendly products creates significant opportunities for lactic acid and PLA. Their versatility allows for market expansion and the development of new applications. We already see this in action with companies like Danone using lactic acid for flavor and pH control in yogurts and fermented drinks. L’Oréal incorporates it into skincare and haircare for exfoliation, balancing pH, and moisturizing. Even Procter & Gamble utilizes lactic acid’s disinfecting and stain-removing properties in some cleaning and laundry products.

Top 10 Lactic Acid Companies

• Corbion (Netherlands)
• Cargill, Incorporated (US)
• Galactic (Belgium)
• UNITIKA LTD (Japan)
• Henan Jindan lactic acid Technology Co., Ltd. (China)
• Sulzer Ltd (Switzerland)
• Musashino Chemical Laboratory (Japan)
• Vigon International (US)
• Henan Xinghan Biotechnology Co. Ltd. (China)
• Danimer Scientific (US)

The global animal intestinal health market was experiencing steady growth, driven by several factors including increasing consumer awareness about animal health and wellness, rising demand for high-quality animal products, and the growing need for natural alternatives to antibiotics in animal feed. The global animal intestinal health market size is estimated to reach $5.4 billion by 2027, growing at an 8.2% compound annual growth rate (CAGR). The global market size was valued at $3.7 billion in 2022.

With the increase in demand for animal protein-based products, livestock breeders are focusing on investing in various feed additives to ensure improved intestinal health, which is one of the key factors encouraging the growth and well-being of different livestock species. Key factors, such as an increase in the consumption of feed and feed additives, steady growth in the market for meat and meat products, and a shift toward natural growth promoters have contributed to the animal intestinal health market growth.

Furthermore the use of feed additives such as probiotics, prebiotics and phytogenics has proven to have a positive impact on the intestinal health of various livestock species, further boosting the growth of animal intestinal health market in the coming years. Countries such as the US, China, and Brazil are among the major producers and consumers of feed and feed products. The increase in demand for poultry, beef, and pork meat products has contributed to the growth of the compound feed market in these countries. Owing to this, the stakeholders in these markets are actively including natural growth promoters like probiotics in the manufacturing of feed. Thus, with the rising demand for feed additives such as probiotics, prebiotics and phytogenics in the compound feed industry, the animal intestinal health market is anticipated to witness a positive growth during the forecast period.

Factors shaping the animal intestinal health market trends include:

1. Shift towards Natural Solutions: There has been a significant shift away from the use of antibiotics in animal feed due to concerns about antibiotic resistance and the spread of antibiotic residues in food products. This has led to a growing demand for natural alternatives such as probiotics, prebiotics, organic acids, and essential oils to promote intestinal health in animals.
2. Regulatory Changes: Regulatory agencies around the world are implementing stricter regulations on the use of antibiotics in animal feed, driving the adoption of alternative solutions for promoting animal intestinal health. For example, the European Union banned the use of antibiotic growth promoters in animal feed in 2006, leading to increased demand for alternatives.
3. Rising Demand for Animal Protein: As global populations continue to grow, there is increasing demand for animal protein products such as meat, milk, and eggs. Maintaining intestinal health in animals is essential for maximizing productivity and ensuring the quality of these products, driving the adoption of intestinal health solutions in animal husbandry practices.
4. Increasing Livestock Production: Rapid urbanization and rising incomes in developing countries are leading to increased demand for animal products, driving growth in the livestock production sector. As a result, there is growing awareness among livestock producers about the importance of intestinal health in improving animal performance and reducing the risk of diseases.
5. Technological Advancements: Advances in biotechnology and microbiology are leading to the development of innovative products and solutions for promoting intestinal health in animals. For example, researchers are exploring the use of microbial-based feed additives and precision microbiome management techniques to optimize intestinal health and improve animal productivity.
6. Focus on Preventive Healthcare: There is a growing emphasis on preventive healthcare in animal agriculture, driven by the need to reduce the use of antibiotics and improve overall animal welfare. Proactive measures to maintain intestinal health, such as the use of probiotics and dietary supplements, are becoming increasingly popular among livestock producers.

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Market Drivers: Increasing application of animal health ingredients in feed products to enhance livestock production and to ultimately improve animal protein quality

The rise in population, incomes, and urbanization are the key factors, which contribute to the unprecedented growth of the livestock sector. The result is increased consumption of food products, such as meat, eggs, and milk has increased. As demand is anticipated to rise, the increased production demand for healthy and nutritive poultry meat will propel the market growth. The increase in awareness among consumers about the health benefits associated with the consumption of animal protein, such as improved bone health, immunity, and reduction in protein deficiencies, is also one of the several factors due to which the demand for livestock products remains high. The increase in demand for livestock products has led the stakeholders to use to feed addtitives such as probiotics, prebiotics and phytogenics to improve the animal health. For instance, digestive disorders such as stomach ulcers, swine dysentery, and transmissible gastroentrities among others are common in pigs. In order to avoid this orders and ensure effective animal health the feed additives such as phytogenics are being used in pigs.

This research report categorizes the animal intestinal health industry based on Additive, Livestock, Form, Function, Source.By Additive

• Probiotics
• Prebiotics
• Phytogenics
• Immunostimulants

By Livestock

• Poultry
• Ruminants
• Swine
• Aquaculture
• Other Livestock

By Form

• Dry
• Liquid

By Function

• Metabolism
• Weight Gain
• Nutrient Digestion
• Disease Prevention
• Bone and Joint Health

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South America  is projected to be the second fastest growing market in terms of value

In recent years, there have been several changes in dietary habits and consumption patterns of the population in developing countries, such as Brazil and Argentina, where the shift toward increased consumption of meat and dairy products has been witnessed. Consumers are becoming health-conscious and are focusing on opting for nutrition-rich products derived from livestock, which is provided by enriched feed products. This increase in demand for various animal products, such as milk, meat, eggs, and dairy products, has led to a rise in the usage of feed probiotics and prebiotics, as these products help improve the gut health of the livestock. This increase in industrialized livestock production is another major factor encouraging market growth in South America.

Innovations and technological advancements in the overall animal health and nutrition sector

With the ban on antibiotics in European countries, innovations for effective and sustainable feed additives have been a major focus area by the market players in the feed industry. Feed additives such as probiotics and prebiotics are anticipated to act as substitutes for harmful feed additives like antibiotics which adversely impact the animal health. The increased focus on animal health and the rising demand for advanced solutions by the stakeholders along the value chain pose an attractive growth opportunity for the animal intestinal health  market. For instance, in November 2020, Evoniks Animal Nutrition business line launched Ecobiol Fizz, the first probiotic for chicken in effervescent tablet form. The product contains a microbial strain of the species Bacillus amyloliquefaciens, which is used to stabilize the intestinal microbiota of broilers and chickens reared for laying, particularly during stressful periods, such as breeding.

Top Animal Intestinal Health Companies

• Cargill, Incorporated (US)
• Koninklijke DSM N.V. (Netherlands)
• Archer Daniels Midland Company (US)
• DuPont de Nemours, Inc. (US)
• Evonik Industries (Germany)
• Novozymes (Denmark)
• Nutreco (Netherlands)
• Chr. Hansen Holdings (Denmark)
• Bluestar Adisseo Pvt Ltd. (China)

The pine-derived chemicals market encompasses a wide range of products derived from pine trees, including resins, essential oils, rosin, turpentine, and tall oil. These chemicals find applications across various industries such as adhesives, paints and coatings, flavors and fragrances, lubricants, and personal care products. The global pine-derived chemicals market size is estimated to reach $6.8 billion by 2027, growing at a 4.5% compound annual growth rate (CAGR). The global market size was valued $5.5 billion in 2022.

Pine-derived chemicals industry growth opportunities

There are huge growth opportunities in the world’s developing countries where the agriculture sector is growing rapidly. The high population growth and growing industrialization result in increased food demand. The FAO projects that the trend will continue to be the same for the next two decades. More than 90% of total industries’ wood products manufactured in developing countries will be utilized domestically. 

This will boost the global pine-derived chemicals industry growth. There have been quite a few investments by means of mergers, acquisitions, and partnerships by key players in developing regions. These developments in the pine-derived chemicals industry will drive the need for raw materials obtained from pine trees and increase its demand and application into the end-consumer segment. It would also provide employment and generate income opportunities in developing countries.

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How do pine-derived chemicals contribute to lowering the carbon footprint compared to their synthetic counterparts?

Increasing demand for bio-friendly productsThe demand for these products is exponentially increasing because consumers are inclined more toward environment-friendly products. These chemicals use natural and renewable products as raw materials to develop basic as well as necessary items and serve as a mechanism to lower the carbon footprint. Crude Tall Oil (CTO) is a very prominent example of pine chemistry which has varied applications. The pine-derived chemicals are obtained from living trees, pine stumps, and logs for which the industry depends on raw materials from the forestry sector. The American Chemistry Council (ACC) presented that the global availability of CTO will increase to 2.26 million tonnes per year by 2030, owing to the growth of pine-derived chemicals over their chemical substitutes.Asia Pacific’s growth is attributed by many new ventures, acquisitions, and collaborations occur between global players, which are expected to change the dynamics of the Asia Pacific pine-derived chemicals market. 

Due to low labor costs and the execution of new processing methods, most of the production of pine chemicals, especially gum rosin, is carried out in the Asia Pacific, affecting the overall market conditions. In short, the Asia Pacific region is rapidly emerging in the pine chemicals manufacturing segment, supported by strong forestry management, leading to sustainability.

Prominent firms featured

Foreverest Resources Ltd (China)

Harima Chemical Company (Japan)

Takasgo International Corporation (Japan)

Chemiplas Australia Pvt Ltd (Australia)

Mentha and Allied Products Ltd. (India)

The biopesticides market refers to the segment of the agricultural industry that deals with biological pest control methods. Unlike conventional pesticides, which are often synthetic chemicals, biopesticides are derived from natural materials such as animals, plants, bacteria, and certain minerals. They are used to control pests, diseases, and weeds in crops without leaving harmful residues or causing significant harm to the environment.

The biopesticides market size is projected to reach USD 13.9 billion by 2028 from USD 6.7 billion by 2023, at a CAGR of 15.9% during the forecast period in terms of value. The growing awareness about the harmful effects of synthetic pesticides on human health and the environment has led to a rising demand for biopesticides.

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Key characteristics of the biopesticides market include:

1. Types of Biopesticides: Biopesticides can be categorized into several types based on their sources and mode of action:
   • Microbial pesticides: Derived from microorganisms like bacteria, fungi, viruses, and protozoa.
   • Biochemical pesticides: Naturally occurring substances that control pests by non-toxic mechanisms.
   • Plant-incorporated protectants (PIPs): Genetically modified crops that produce their own pesticides.
2. Environmental Benefits: Biopesticides are considered environmentally friendly because they generally have lower toxicity and decompose more quickly than chemical pesticides. They also minimize the risk of pesticide resistance in pests.
3. Regulatory Landscape: The regulation of biopesticides varies globally and often involves rigorous testing to ensure safety and effectiveness. Regulatory bodies typically evaluate factors such as toxicity, persistence, and impact on non-target organisms.
4. Market Growth: The biopesticides market has been experiencing growth driven by increasing consumer demand for organic products, stringent regulations on chemical pesticides, and growing awareness of sustainable agriculture practices. Major agricultural regions like North America, Europe, and Asia-Pacific are significant contributors to biopesticides market growth.

How are governments in Asia Pacific and South America promoting integrated pest management practices as an alternative to chemical pesticides?

FAOSTAT reports that China, India, Brazil, and Argentina have emerged as significant consumers of pesticides, driven by increasing demands for food due to population growth, the rise of middle-class households, and higher disposable incomes. Consequently, there has been a notable uptick in pesticide usage to enhance crop yields. However, the region faces challenges such as pollution, soil contamination, and concerns over the adverse impacts of chemical pesticides on food safety. In response, governments are actively promoting integrated pest management strategies.

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Several factors influence the adoption of biopesticides in these regions, including product availability, the prevalence of organic farming practices, farmer awareness, cultivation of high-value crops, and effective marketing of biopesticides. In nations like India and China, where farmers often manage smaller plots under economic constraints, government subsidies and supportive regulations are pivotal in facilitating large-scale biopesticide adoption. South America mirrors this trend, offering promising opportunities for new market entrants due to a relatively small number of existing producers and accessible entry points. Major agricultural corporations are already capitalizing on these emerging markets. As farmer awareness of biopesticide benefits continues to rise, significant growth in biopesticide consumption is anticipated across Asia Pacific and South America.

Europe is expected to hold a significant biopesticides market share

The study covers countries such as France, Germany, Spain, Italy, UK, Netherlands, Russia, and the rest of Europe. Biopesticides encompass a range of products and techniques used to safeguard crops from damage caused by environmental factors, heavy foot traffic, and other stressors. The demand for biopesticides is propelled by several factors, notably their role as safer and more sustainable alternatives for pest control in agriculture. Moreover, the increasing adoption of organic farming practices, driven by consumer demand for chemical-free food and sustainable agricultural methods, has significantly bolstered their market demand.Developed countries with thriving sports and landscaping industries exhibit particularly robust demand for biopesticides. For instance, in France, stringent governmental and regulatory measures against synthetic pesticides due to their potential adverse effects have catalyzed this demand. This regulatory landscape has fostered a conducive environment for the growth of the biopesticides industry.

Top Biopesticides Companies

• BASF SE (Germany)
• Bayer AG (Germany)
• Syngenta AG (Switzerland)
• UPL (India)
• FMC Corporation (US)
• Pro Farm Group Inc. (US)
• Novozymes (Denmark)
• Isagro S.p.A (Italy)
• Nufarm (Australia)
• Certis USA L.L.C. (US)

What are the key advantages of microbial pesticides over traditional chemical pesticides?

The increasing demand for microbial pesticides stems from their effectiveness within integrated pest management (IPM) strategies, which emphasize sustainable and targeted pest control through diverse methods. These pesticides serve as a sustainable alternative to chemical options, appealing to farmers committed to long-term pest management solutions.

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Microbial pesticides have proven effective against a broad spectrum of pests and diseases. Their specificity enables them to target pests while minimizing harm to beneficial insects, crucial for preserving biodiversity and ecological equilibrium in agricultural settings. Farmers acknowledge the significance of microbial pesticides in safeguarding crops while mitigating adverse environmental effects.

The nutraceutical ingredients market refers to the segment of the food and nutrition industry that focuses on the development, production, and marketing of ingredients with health benefits. These ingredients are often used in dietary supplements, functional foods, and beverages. The global nutraceutical ingredients market size is estimated to reach $261.7 billion by 2027, growing at a 7.2% compound annual growth rate (CAGR). The global market size was valued $185.2 billion in 2022. The market is characterized by a wide range of products, including vitamins, minerals, amino acids, probiotics, prebiotics, omega-3 fatty acids, plant extracts, and other bioactive compounds.

Nutraceutical Ingredients Market Trends

• Personalized Nutrition: Increasing demand for customized nutraceutical products tailored to individual health needs.
• Clean Label Products: Consumers are seeking products with natural, organic, and non-GMO ingredients.
• Plant-Based Ingredients: Rising popularity of vegan and vegetarian lifestyles is boosting the demand for plant-based nutraceuticals.
• Sustainability: Sustainable sourcing and production practices are becoming important to consumers and manufacturers alike.
• Innovation in Delivery Systems: Development of novel delivery systems such as gummies, soft chews, and effervescent tablets to enhance consumer compliance and experience.

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Factors Driving the Nutraceutical Ingredients Market Growth

• Increasing Health Awareness: Growing awareness about health and wellness among consumers is driving the demand for nutraceutical products. People are increasingly looking for foods and supplements that can help prevent diseases and improve overall health.
• Aging Population: The aging global population is seeking products that can help manage age-related health issues, such as bone health, joint health, and cognitive function.
• Preventive Healthcare: There is a shift towards preventive healthcare, where individuals are taking proactive measures to maintain their health and prevent chronic diseases.
• Rising Healthcare Costs: High costs associated with medical treatments are encouraging people to adopt nutraceuticals as a cost-effective alternative for maintaining health.
• Technological Advancements: Advances in extraction, formulation, and delivery technologies are enabling the development of more effective and targeted nutraceutical ingredients.

The food segment is estimated to account for the largest nutraceutical ingredients market share

Over the past decade, the consumption of junk foods has increased significantly due to their palatability, mouthfeel, and texture. In response, food producers have started innovating healthier alternatives. As consumers become more health-conscious and aware, the preference for balanced diets and nutritious food remains strong. This shift has expanded the applications for functional foods and created profitable growth opportunities for manufacturers in the nutraceutical ingredients market.

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APAC is projected to account for the highest CAGR in the nutraceutical ingredients Industry

The increased economic growth of the countries in the region and the rise in convenience food consumption due to busy lifestyles have fueled the demand for enriched nutritional food and beverage products in this region. Additionally, rising consumer expenditure on health and wellness products as a result of changing lifestyles and rising disposable income is likely to be major factor contributing to market growth in the Middle East & Africa and the Asia Pacific.

Top Nutraceutical Ingredients Companies

Associated British Foods Plc (UK)

Arla Foods Ingredients Group P/S (Denmark)

DSM (Netherland)

Ingredion (US)

Tate & Lyle (UK)

Ajinomoto Co., Inc. (Japan)

CHR Hansen Holdings A/S. (Denmark)

Kyowa Hakko Bio Co., Ltd. (Japan)

Glanbia Plc (Ireland)

Fonterra Co. Operative Group Limited (New Zealand)

Cargill Incorporated (US)

Cold Chain Industry Overview

The cold chain market refers to the infrastructure and logistics involved in maintaining the integrity and safety of temperature-sensitive products throughout the supply chain. This includes items like pharmaceuticals, vaccines, food products, and chemicals that require specific temperature controls to preserve their quality and efficacy.The cold chain process typically involves refrigerated transport, storage, and distribution, with temperature monitoring and control at every step to prevent spoilage, contamination, or degradation of the products. It’s crucial for industries such as healthcare, food and beverage, and agriculture, where maintaining product quality and safety is paramount.

Global Cold Chain Market ForecastThe global cold chain market size is on a trajectory of significant expansion, with an estimated value projected to reach USD 372.0 billion by 2029 from the 2024 valuation of USD 228.3 billion, displaying a promising Compound Annual Growth Rate (CAGR) of 10.3%.

How does cold chain infrastructure contribute to meeting consumer demands for convenience and health-conscious options?

• By reducing the risk of spoilage and contamination during transit
• By minimizing processing of perishable items
• By increasing the marketability of frozen foods

What role does intermodal transport play in the global cold chain market, and why is it considered pivotal?Intermodal transport has emerged as a pivotal solution in the cold chain industry due to its unparalleled ability to optimize fuel costs. Cold chain logistics demands a delicate balance between temperature control and efficiency, which intermodal transport achieves by seamlessly integrating multiple modes of transportation, such as trucks, trains, and ships, to deliver goods to their destination. By strategically combining different transport modes based on their strengths and cost-effectiveness, companies can minimize fuel consumption. For instance, trains are substantially more fuel-efficient than trucks over long distances, while trucks offer flexibility and accessibility for last-mile delivery. By leveraging these strengths, businesses can significantly reduce their overall fuel expenditure, thereby enhancing cost-effectiveness in the cold chain market. Moreover, intermodal transport fosters sustainability, a growing concern in modern supply chain management. By optimizing fuel usage, companies not only cut costs but also reduce their carbon footprint. This aligns with increasingly stringent environmental regulations and consumer preferences for eco-friendly practices.

Cold chain market growth is being driven by the increasing need for temperature control, which aims to prevent food loss and mitigate potential health hazards.

The escalating global population and urbanization have led to a surge in demand for perishable goods like fresh produce, dairy, and pharmaceuticals. This necessitates meticulous temperature management throughout the supply chain to uphold product quality and safety. The modern supply chain’s complexities, with extended transportation routes and diverse distribution channels, amplify the importance of temperature control. Fluctuations in temperature during transit or storage can lead to spoilage, causing significant financial losses for producers, distributors, and retailers. Moreover, inadequate temperature control can pose public health risks by fostering the proliferation of harmful pathogens, increasing the likelihood of foodborne illnesses. As a result, stringent regulatory frameworks and evolving consumer expectations emphasize the need for precise temperature monitoring and management across the cold chain.

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Refrigerated LCVs are positioned to lead the charge in refrigerated road transport, with the highest expected CAGR in the years to come.

Due to their versatility and agility, refrigerated LCVs excel in navigating urban areas and reaching smaller distribution points. This translates to enhanced accessibility for a wider customer base. Furthermore, LCVs offer economic advantages for cold chain businesses. Their lower operational costs, including fuel consumption and maintenance, make them a more financially viable option.Finally, the growing focus on sustainability aligns perfectly with the benefits of LCVs. As the industry strives to reduce carbon emissions and minimize its ecological impact, smaller, more fuel-efficient vehicles like LCVs are becoming increasingly favored. This rearrangement starts with the core benefit of LCVs (accessibility) then dives into the reasons why they are a good choice economically (lower operational costs). Finally, it connects the environmental benefits (fuel efficiency) to the larger trend of sustainability within the industry.

Asia Pacific is the fastest growing as well as the dominant market for cold chain. 

The rise of convenience food stores, supermarkets, and quick-service restaurants (QSRs) across Asia Pacific has driven the demand for robust cold chain solutions. Consumers’ growing preference for processed and frozen foods necessitates efficient cold chain logistics to maintain freshness and quality. This is further amplified by the region’s diverse geography with varying climates, demanding a well-developed network for seamless distribution of perishable goods.Furthermore, Asia Pacific’s booming population, rapid urbanization, and expanding middle class are fueling a surge in demand for perishable goods like fresh produce, dairy products, and pharmaceuticals. This necessitates robust cold chain infrastructure to meet these demands. China, for example, is a major consumer of bakery products and meat, further propelling the need for cold chain solutions in the region. With China’s reliance on meat imports significantly increasing and ranking as the world’s largest meat importer since 2019, efficient cold chain logistics are crucial.

What is Nichirei Corporation’s specific strength within the Japanese cold chain market?

Established in 1945, NICHIREI CORPORATION has long been a prominent player in the food industry landscape. Evolving from its origins as a food producer, the company has diversified its portfolio to encompass a spectrum of businesses, transforming into a multifaceted entity. Nichirei Corporation’s subsidiaries include Nichirei Foods Inc., Nichirei Fresh Inc., Nichirei Biosciences Inc., and Nichirei Logistics Group Inc., each contributing to its comprehensive offerings.The company offers cold chain services through its subsidiary Nichirei Logistics Group Inc., which specializes in storage and transportation services. With refrigerated warehouses and logistics centers strategically positioned in key regions like Europe, Japan, and China, the company boasts a considerable refrigerated storage capacity exceeding 2 million tons. NICHIREI CORPORATION’s network of domestic and worldwide affiliates is located across 120 sites. The development of advanced cold chain technologies by companies in Japan using their research and development (R&D) capabilities has a significant impact on the cold chain market in the country. These advancements enhance the overall efficiency, reliability, and safety of the cold chain infrastructure, leading to improved preservation and transportation of temperature-sensitive goods. By investing in R&D, companies in Japan can innovate and create cutting-edge technologies specifically tailored to the Japanese cold chain industry.

Top Cold Chain Companies

• Americold Logistics, Inc. (US)
• Lineage, Inc. (US)
• NICHIREI CORPORATION (Japan)
• Burris Logistics (US)
• A.P. Moller – Maersk (Denmark)
• United States Cold Storage (US)
• Tippmann Group (US)
• Coldman Logistics Pvt.Ltd. (India)
• CONGEBEC (Canada)
• CONESTOGA COLD STORAGE (Canada)
• NewCold (Netherlands)
• Seafrigo Group (France)

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